opened escrow today!

Offer accepted and escrow opened today!

This is on a shortsale. I had the "in" on this one due to family member. I met the agent I used at the local REI club. I was so green on how to make this work that I thought it best to learn on this one. We agreed to a marketing fee which will be 50% of her commission on the first deal. Then, when her buyer rehabs and sells, I'll get 25% of her commission. She's very smart in this!! She wouldn't have had the deal and some is better than none.

Deal is in San Diego near San Diego State. It is a student rental 4/3 a block from main campus. Great location! Last group in there trashed the place but no structural damage, good roof, pipes, electrical. Buyer will totally upgrade kitchen/baths paint inside/out replace carpets, landscape, etc.

Listed on MLS 250K
Offer 240K
Bank accepted 250K.
Repairs est $40k (on paper)
ARV 380- 410K

Will report my actual fee on this when in hand!

I would not have approached it this way had I not read Dean's "your town" book. It motivated me to get out there and meet people. It was at the second REI club meeting I went to that I met this Agent. She is also an investor and knows the lingo, has heard of Dean and "Gets it". I thought seeing how we worked together on this deal, would determine future.

We met and a few days later I showed her the house. Listed it on June 10, opened escrow Aug 19. Short sale with BOA. That is the fastest SS deal I've heard of. I have another SS deal that is with Chase bank that was started 15 months ago.

Glory to God!! Got my swagga back.. oh ya!!